Iran Oil Ministry Rejects Reports on Trustee Firms, Says Sanctions Drove their Creation

Iran Oil Ministry Rejects Reports on Trustee Firms, Says Sanctions Drove their Creation
(Monday, August 31, 2026) 16:37

TEHRAN, Sept. 1 (NIPNA)— Iran’s Petroleum Ministry rejected reports alleging weak oversight of oil-sales intermediary companies known as “trustee firms,” calling claims about their expansion and links to Petroleum Minister Mohsen Paknejad unfounded.

The ministry’s public relations department said in a statement that several media outlets and Telegram channels had published what it described as inaccurate and fabricated reports concerning the ministry’s supervision of the firms and their role in Iran’s oil trade.

According to the ministry, some reports had claimed there was an agreement between the government and parliament to replace the oil minister and that decisions concerning trustee companies would follow a ministerial change. The ministry dismissed those reports as speculative and inconsistent with official government positions.

The ministry also rejected allegations that supervision over trustee firms had weakened, that the companies had supported Paknejad, or that their numbers had tripled during his tenure. Claims that the companies had been allowed to operate without adequate technical and professional vetting were also described as false.

The ministry said the allegations had previously been addressed through official statements and reviews by what it described as independent and established media outlets.

Sanctions-linked trading structure

The ministry said trustee firms emerged in response to intensified international sanctions and have been used as part of the mechanisms enabling Iran to continue selling crude oil, petrochemical and steel products and repatriating export proceeds.

It said the operating model and oversight mechanisms for such companies had been revised in recent years, before the current government took office, with the firms brought under closer supervision through the country’s banking network. The ministry said that framework remained in place after the change of government.

The ministry also stressed that oversight of the companies is not limited to the Petroleum Ministry and that other relevant government bodies have supervisory responsibilities.

The statement comes as Iran continues to operate under sanctions that constrain conventional channels for oil exports and access to international financial systems. The ministry said the trustee-company mechanism therefore remains part of the infrastructure used to facilitate foreign trade and bring export revenues into the country.

Warning over sensitive reporting

The Petroleum Ministry urged media organizations to exercise greater caution when reporting on sensitive issues involving oil exports and economic security, particularly during what it described as a challenging period for the country.

It argued that publication of unsupported claims could affect public confidence and disrupt economic processes, including mechanisms for securing foreign currency and importing essential goods.

The ministry also said it reserves the right to pursue legal and judicial action against media outlets it believes have damaged its reputation or interfered with economic operations.

According to the statement, details concerning the difficulties surrounding crude-oil exports and the repatriation of foreign-exchange earnings are regularly reported to senior government, security and supervisory authorities.

The ministry said it remains committed to its responsibilities in managing the country’s oil-export operations and described what it called media campaigns against those operations as potentially disruptive to broader economic processes.

 

Email is required
Characters left: 500
Comment is required